Global merchandise trade is now projected to grow 0.9 percent in 2025, up from a contraction of 0.2% forecasted in April but down from the 2.7 percent estimate pre-dating the tariff increases, the World Trade Organization (WTO) said on August 8.
The upgrade is mostly due to frontloading of imports in the United States, WTO economists said in a forecast update released on 8 August.
"However, higher tariffs over time will weigh on trade, bringing next year’s expected trade volume growth down to 1.8 percent from 2.5 percent previously," the WTO said in its update.
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